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Lawsuit May Define Profits

Webster's may have already tackled the task, but Hollywood has never gotten the memo. The industry's creative accounting is well-known and designed to make sure that profit sharing exists only in contracts and not in reality. That may change due to an upcoming lawsuit outlined in the LA Times, and summed up on IMDB.

The lawsuit involves profits resulting from the TV show "Frasier." The lawsuit takes on Paramount Picture, and tries to figure out how the show, which grossed $1.2 billion, somehow lost $200 million. This case could have wide implications for the industry. Specifically, it could force a common definition for profits. If such a thing occurred, contract negotiation could be effected across all media. May other people have tried to get this matter decided, but they have been settled. Most likely, this one will be too, the studios won't let such a determination be made. --Terrence Ryan

Posted by on October 24, 2005 10:31 PM
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